Bored Ape Yacht Club Ecosystem Guide
August 25, 2022 Mike Antolin
Data Source: Footprint Analytics - Guide to the Bored Ape Ecosystem
Bored Ape Yacht Club (BAYC) is made up of 10,000"Bored Apes"The NFT series composed of , launched and released to the public on April 30, 2021, is the first project of the famous Yuga Labs. And the price of the first BAYC NFT was 0.08 ETH (worth about $190 at the time).
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The most expensive BAYC series is #2087, which sold 769ETH in September 2021, which was $2,307,638 based on the current currency price.
Despite the massive amount of hype surrounding BAYC in March 2021, the project has maintained its status as one of the most prized NFTs in the world of digital collectibles, especially during this year's cryptocurrency bear market.
BAYC's continued prosperity is largely due to Yuga Labs' successful expansion of the ecosystem, doing things far beyond what people originally envisioned as a series of NFTs. It has become an ecosystem with NFT blessings, a future metaverse, and an ecosystem that combines the entire project with tokens, which it calls"Yugaverse". Meebits and CryptoPunks are also owned by Yuga Labs.
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Footprint Analytics - BAYC Floor Price
What makes BAYC so special?
If you hold a BAYC NFT, you will become their "Bored Ape Yacht Club Member". Member benefits are as follows:
Private Discord server for BAYC members only.
Airdrop NFT collectibles into members' wallets, which can be sold for profit.
By using free airdropped serums, apes can be transformed into"mutant ape". Like the airdropped NFTs, these mutant apes can also be sold.
BAYC's newly launched cryptocurrency ApeCoin air investment qualification,with a 90-day grace period。
Data shows that despite 2022 being a cold winter for cryptocurrencies, BAYC transactions are not standing still. From January to May 2022, there were three peaks in transaction volume and number of transactions. At each peak, there were at least 84 deals with a total transaction value of at least $29 million.
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Footprint Analytics - BAYC Transaction & Trading Volume
BAYC series derivative NFT
The founders of BAYC launched the Boring Ape derivative NFT to motivate their community with rewards and giveaways. This series includes the following:
Mutant Ape Yacht Club
The Mutant Ape Yacht Club (MAYC) NFT series is a reward for BAYC holders. While BAYC holders will not receive MAYC NFTs directly in their wallets, BAYC holders will receive a"special serum"NFT assets. This "special serum" gives BAYC holders the option to create variations of their current BAYC NFT.
Like BAYC NFTs, the demand for MAYC has gradually increased over time. From August 29, 2021, the floor price of MAYC is $7,571, and by April 25, 2022, the floor price soared to $114,773, an increase of 1,415.96%.
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Footprint Analytics - MAYC Floor Price
Bored Ape Kennel Club
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Top NFT collections by last 30 days’ volume as of Aug. 23. (Source: CoinMarketCap)
While BAKC has 9,602 NFTs compared to 19,425 MAYC NFTs, BAKC's scarcity doesn't make it any more valuable than MAYC. In the BAYC ecosystem, the floor price of BAKC is only 7.3ETH, which is the second lowest NFT among all series. These figures show that BAKC is in the middle of the price range compared to BAYC, MAYC and Otherdeed for Otherside.
Otherdeed for Otherside
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Footprint Analytics - Otherdeed Trading Volume by Marketplace
The project's cinematic trailer features a bored ape living in the land of Otherside as well as showcasing other Yuga NFT collectibles. Both the trailer and the images feature Boring Ape. So while Yuga didn't explicitly say so, it's been shown in the trailer that they'll play a major role.
Although the price of BAYC collectibles is higher, as of August 15, 2022, the floor price of Otherdeed for Otherside is 1.749ETH, which is the lowest floor price among BAYC ecosystem collectibles.
Otherdeed NFT has 100,000 NFTs and it is not as exclusive as other collections in the BAYC ecosystem. according toOpenSeaThe Otherdeed NFT collection has attracted more than 34,000 landowners in just a few months, according to data from . Currently, the number of Otherdeed NFT holders exceeds that of BAYC, MAYC, and BAKC.
ApeCoin
ApeCoin is an Ethereum-based governance and utility token. Used throughout the Yugaverse to incentivize a decentralized community. ApeCoin holders govern the ecosystem using a decentralized governance framework and decide how to utilize the ApeCoin DAO Ecosystem Fund.
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ApeCoin Total Addresses (Source: CoinMarketCap)
The graph above shows that there are over 85,000 unique holders holding ApeCoin. This means that some people want to be part of the BAYC community even if they cannot afford expensive NFTs.
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Holder Statistics - ApeCoin (Source: CoinMarketCap)
Bored Ape Yacht Club's forecast
Over the past few months, the BAYC NFT series and Apecoin have had impressive numbers in terms of USD trading volume and unique wallets. From August 2021 to August 2022, the market capitalization of the BAYC series grew from $245 million to $1.82 billion, an increase of 642.9% in one year.
The increase in BAYC's market cap is a positive sign among BAYC collectibles. Market cap growth means that NFTs in the BAYC series increase in price over time. Furthermore, the growing market capitalization indicates that the demand for these unique NFTs is sustainable for the foreseeable future.
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(Source: CoinMarketCap)
The Footprint Community is a global, mutually supportive data community where members leverage data visualizations to co-create communicable insights. In the Footprint community, you can get help, establish links, and exchange learning and research on blockchains such as Web 3, Metaverse, GameFi, and DeFi. Many active, diverse, and highly engaged members inspire and support each other through the community, and a worldwide user base is built to contribute data, share insights, and drive the community forward.
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The above content is only a personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious understanding or data errors, feedback is welcome.
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The Footprint Community is a global, mutually supportive data community where members leverage data visualizations to co-create communicable insights. In the Footprint community, you can get help, establish links, and exchange learning and research on blockchains such as Web 3, Metaverse, GameFi, and DeFi. Many active, diverse, and highly engaged members inspire and support each other through the community, and a worldwide user base is built to contribute data, share insights, and drive the community forward.
